Ambrose snags large industrial deal
Ambrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution center for Gordmans Inc.
Ambrose Property Group will break ground next month on its first industrial project, a 545,010-square-foot national distribution center for Gordmans Inc.
Gordmans, an apparel and home decor retailer, said it will spend $37.5 million to construct and equip a 545,000-square-foot distribution center in Clayton.
High diesel prices are turning companies to trains.
Indianapolis has more speculative industrial space under construction than any other market in the Midwest as developers try to capitalize on about four million square feet of tenant interest in the market.
Fast-growing Ambrose Property Group plans to develop a $12 million warehouse building on a site in Plainfield that it acquired last month from the FDIC.
Philadelphia-based BPG Properties Ltd., which owns the building at 8888 Keystone Crossing that Bell is vacating, has purchased Bell’s new headquarters at 4400 W. 96th St.
Construction on the 794,608-square-foot warehouse will begin in the next two weeks in the AmeriPlex Business Park, officials of Atlanta-based developer Industrial Developments International said. They hope to complete construction in December.
Those seeking the historic designation hope the four-acre industrial complex will be a catalyst for redevelopment of a stretch of East Washington Street.
Hohmann has been involved in numerous high-profile real estate deals over the years, including the transaction that resulted in development of Intech Park and assembling about 60 acres for Clay Terrace in Carmel.
Wisconsin-based Regal Beloit Corp. has hired Browning/Duke Realty to build a 376,000-square-foot distribution center in Plainfield, the company announced Tuesday.
Speculative development is returning to the modern bulk industrial market after a four-year drought, with at least two projects preparing to break ground this spring and another in the works.
Music wholesaler Anderson Merchandisers LP is expected to occupy a 703,000-square-foot warehouse formerly used by Best Buy.
Conservationists have complained that industrial development planned for part of the 7,100-acre site would destroy all but 44 acres of the state's largest restored black-soil tallgrass prairie.
California-based Blue Real Estate lost the last big chunk of its Indianapolis portfolio last week when a lender took control of Blue’s 360,000-square-foot, seven-building portfolio in Park 100.
Through the first eight months of this year, there were at least seven sales of large industrial properties in the market, compared with zero last year.
David Powers Motorsports, John Force Racing, Don Prudhomme Racing and Vance & Hines together occupy roughly 320,000 square feet of space at the park.
The Urban Land Institute panel’s plan for the General Motors plant site ignores some realities in favor of presenting a relatively predictable New Urbanism redevelopment plan.
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
Strategy also calls for greater Southeast presence, less investment in the Midwest.
Statistics for Indianapolis office and industrial property.